Monday , January 18 2021

Two ADB financial support for Morocco



At the last meeting in Abidjan in Côte d'Ivoire, the Board of Directors of the African Development Bank Group approved two grants for Morocco.
The first EUR 75 million financial support is intended to support the expansion and modernization of Rabat-Salé International Airport.
"This loan will help to achieve the rising air traffic, the boom of the economic zone around the Moroccan capital and the fulfillment of the growing logistical needs of economic operators in the country," said ADB.
ADB's financial contribution to Morocco should also contribute to "increasing volumes, infrastructure and equipment to a greater extent in order to ensure quality service in accordance with international standards that allow the country to face air transport an average growth of 6% per year", said the Pan-African institution, pointing out that this loan is in line with its ten-year strategy 2013-2022 and its transport development policy.
In addition, this operation is in line with two of the five key priorities: "Connecting Africa" ​​and "Africa's Industry".
For Mohamed El Aziz, AfDB's chief executive for the North African region, it is clear that "the further development of Morocco's destination and the strengthening of logistics competitiveness is a strategic priority for the African Development Bank to promote conditions for sustainable and joint growth".
Under the same lines, Leila Farah Mokaddem, head of the bank in Morocco, said that with this project capacity, freight traffic and passengers, the Rabat-Salé International Airport would increase the quadruple.
In addition, "this dynamic of development will include the expected creation of 1,700 direct jobs," she added.
Another EUR 117 million support is intended to support the implementation of a sustainability project and the provision of access to drinking water in Morocco. More specifically, in the provinces of Guercif, Zagora, Al Hoceima, Tangiers and Beni Mellal, which have 2.5 million inhabitants.
The African Development Bank's support to this project is a "strategic contribution". Mohamed El Azizi, Executive Director of the Bank for the North African region, believes: "Providing access to quality drinking water for all is a prerequisite for any form of sustainable development".
For AfDB, ensuring sustainable access to safe drinking water to meet the needs of residents and industrial operators allows the program to meet two of the five priorities. Intentionally: "Improving the living conditions of the African population" and "Industrial Africa".
Indeed, as Leila Farah Mokaddem pointed out, "this is a project that will contribute to the further improvement of the living conditions of the millions of Morocco".
The African Development Bank continued to refer to this project and found it to be in line with the priorities of the investment plan of the National Office for Electricity and Drinking Water (ONEE) for the period 2016-2020. ) Morocco.
As the financial institution pointed out in its statement, the partnership between the Kingdom of Morocco and the African Development Bank Group has more than 160 projects and programs that together represent a financial commitment of more than 8.8 billion euros.
"This funding, of which more than 80% is dedicated to basic infrastructure, covers various sectors, including energy, water, transport, agriculture and social development," she said.


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